U.S. oil futures settled more than 10% higher on Tuesday, rebounding a bit a day after posting the largest percentage loss since 1991. Tuesday’s rebound for oil is “relatively modest” compared to Monday’s plunge, said Tyler Richey, co-editor at Sevens Report Research. “We could easily see a retracement higher in prices in the days and weeks ahead…Click here to read the full article.
OPEC’s recommendation for the 1.5 million barrel per day cut was “a bullish surprise versus expectations on the surface, however, Russia was not willing to participate in the…” which total 500,000 barrel per day, said Tyler Richey, co-editor of Sevens Report Research. Click here to read the full article.
The EIA, however, also reported that domestic production edged up to a fresh all-time high of 13.1 million barrels a day and “exports from the U.S. climbed to their second highest level on record, suggesting that the U.S…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
“Energy traders are focused on the coronavirus right now, trying to gauge how it has, and will, affect demand in China, supply internationally, and ultimately how OPEC+ will adjust…” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
“While stocks are hitting new all-time highs and bond yields are moving…investors remain wary of the broader macroeconomic backdrop for the financial markets, and gold is still a favorite safe haven destination…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
“Unless we begin to see significantly colder temperatures show up in the extended forecasts into the back half of winter, the natural gas market is poised to continue lower…” said Tyler Richey, co-editor of Sevens Report Research. Click here to read the full article.
Oil prices had spent the front half of the week moving lower “largely thanks to lingering oversupply concerns and a continued unwind of the geopolitical fear bid that was triggered by the U.S.-Iran…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
“The geopolitical fear bid supporting the gains in the energy markets in the front half of the week vanished much quicker than most analysts anticipated…” says Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
The U.S. military action that killed Iran’s Maj. Gen. Qassem Soleimani last week “served as a reminder that the Trump administration is both unconventional and unpredictable, and that helped reintroduce the geopolitical fear bid that carried the oil market to multi-month highs this week,” Tyler Richey, co-editor at Sevens Report Research told MarketWatch on Tuesday. Click here to read the full article.
The “solid economic data in the U.S. and abroad” paired with phase one/phase two trade deal optimism helped fuel the rally from a fundamental standpoint. From a technical standpoint, recently strong upside momentum is creating a ‘chase’ higher effect, further lifting…” Tyler Richey, co-editor at Sevens Report Research wrote in Tuesday’s newsletter. Click here to read the full article.
